When the market experiences ... , ... to restore equilibrium in the market.
[1] excess supply; price will decline
[2] excess supply; price will rise
[3] excess demand; price will rise
[4] excess demand; price will decline
a.only 1 and 3 are correct
b. only 2 and 3 are correct
c.only 2 and 4 are correct.
d.only 1 and 4 are correct